First Interstate BancSystem (NASDAQ:FIBK) Issues Earnings Results

First Interstate BancSystem (NASDAQ:FIBK) announced its earnings results on Thursday. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03, Briefing.com reports. First Interstate BancSystem had a net margin of 17.76% and a return on equity of 8.51%. During the same period in the prior year, the firm earned $0.66 earnings per share.

First Interstate BancSystem Price Performance

Shares of FIBK stock traded up $0.20 during trading hours on Friday, hitting $32.35. 744,709 shares of the company’s stock were exchanged, compared to its average volume of 755,029. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. The firm has a market cap of $3.38 billion, a P/E ratio of 12.89 and a beta of 0.82. The firm has a 50 day moving average of $27.76 and a two-hundred day moving average of $27.17. First Interstate BancSystem has a fifty-two week low of $20.81 and a fifty-two week high of $33.00.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays boosted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Stephens restated an “overweight” rating and set a $32.00 price objective on shares of First Interstate BancSystem in a report on Monday, June 24th. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Thursday, July 18th. Piper Sandler upped their price objective on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company upped their price objective on shares of First Interstate BancSystem from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Interstate BancSystem presently has a consensus rating of “Hold” and a consensus price target of $30.40.

Insider Transactions at First Interstate BancSystem

In other news, Director Jonathan R. Scott sold 29,499 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total transaction of $746,029.71. Following the completion of the transaction, the director now directly owns 1,021,663 shares of the company’s stock, valued at approximately $25,837,857.27. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Jonathan R. Scott sold 29,499 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $746,029.71. Following the completion of the transaction, the director now directly owns 1,021,663 shares of the company’s stock, valued at approximately $25,837,857.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Julie A. Scott sold 209,831 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total value of $5,306,625.99. Following the completion of the transaction, the insider now directly owns 879,869 shares of the company’s stock, valued at $22,251,887.01. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.

About First Interstate BancSystem

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.